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Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
 Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
According to BHP, the gCNewc 6000 kcal/kg FOB Newcastle index (hereafter 6000kcal) averaged around $61/t over the half, down from around $68/t in the first half of financial 2020. Prices ranged from a high of around $74/t to a low of around $50/t. That is below the 2015/16 trough in real terms. Based on the Wood Mackenzie operating cost curve, more than half of seaborne supply (comprising all grades of energy coal) was likely experiencing negative margins with 6000kcal prices in the low $50s.
The 5500kcal index averaged around $49/t over the same period, with a high of around $58/t and a low of around $38/t, which was where it closed out the half year.
BHP’s Economic and Commodity Outlook further noted that, the spread between the spot indexes for gCNewc 6000kcal and 5500kcal reverted to historical average of close to 20 per cent in the second half of financial year 2020, down from around 30 per cent in the 2019 calendar year.
“While not directly relevant to our business, there was a compression of spreads between the lower grades of energy coal (the 5000, 4200 and 3400 gross–as–received29 kcal brackets) as prices traded deep into the cost curve. Supply has been “sticky” in most export jurisdictions, with the exception of Indonesia, where output has been materially lower. Indonesian supply is prominent in these lower quality brackets” says BHP. Developed Asian markets, who are the largest buyers of >5500kcal product, have been weak under the shadow of COVID–19. Japanese imports contracted by –3 per cent YoY in the first half of the 2020 calendar year, while power demand was down -4 per cent YoY, South Korean imports contracted by –11% per cent.
Chinese demand for seaborne energy coal according to BHP’s Economic and Commodity Outlook FY20, rebounded as lockdowns were lifted, with consumption of coal at coastal power plants back in the normal seasonal range by April 2020. Hydro generation has been inconsistent, along with the weather, with dry conditions early in the year then giving way to floods. The market consensus has been that the 271–281 Mt import inflow registered in calendar years 2017 and 2018 would serve as an informal objective for total coal imports (including metallurgical and lignite) in calendar 2020, rather than assuming that the jump to around 300Mt in 2019 was the new norm. Enforcement of quotas by month and by port, including clamping down on the practice of trading firms clearing customs at one port but discharging at another, have been somewhat effective. Even so, with so much product being forced to clear to China under the Great Lockdown, some provinces and individual ports had already exhausted full year quotas by May.
India saw a sharp decline in energy coal imports in January – June 2020 (–27 per cent YoY). Power demand declined by –7 per cent YoY in the same period, while domestic coal output was quite resilient, at –3 per cent YoY.
Demand from the Atlantic and Mediterranean regions was weak in advance of COVID–19 and lockdowns have deepened the malaise. In calendar 2019, the weakness reflected commercially driven coal–to–gas switching in parts of Europe, where relatively cheap pipeline gas and LNG imports, plus a steep rise in the price of European Carbon Allowances (ECAs)30, have driven generator behaviour. In calendar 2020 to date, all of these factors have remained in place and in some instances they have been amplified by COVID–19: and demand for power itself has now fallen sharply. Renewables have been able to take a larger share of that shrinking pie BHP concluded in its latest Economic and Commodity Outlook FY20.
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Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
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- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
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